Solana Struggling to Gain Balance

Between June and July SOLUSD has had a series of short-term rises and falls. It had its highest value at $42.4850 on the 6th of June. Then it had a series of swings; dropping to the lowest point of $28.535 on the 13th of June. As of today, the price holds at $41.535. A bearish candle stick on the 22nd of the month ended the uptrend indications of the 9-day moving average curve.

Support level: –                 $25.880, $30.755, $31.3875

Resistance Level: –          $48.1925, $39.6325, $42.8025

There Is Still Possibility That SOLUSD Will Add Value
Relative Strength Index indicates fair uptrend strength at 54%. The moving average convergence and divergence indicate a weakening uptrend performance. The histogram’s strength is weakening and the slower curve is almost catching up with the faster curve. It looks like the brief uptrend is going to switch to a downtrend. However, the market is in favour of the bulls today. If today’s market closes in favour of the bulls, the SOL/USD will add on value. The two last candlesticks seem like bullish engulfing candlesticks. This might support the fact that the uptrend may continue.

The price of the market may soon rally back to $42.000

 

 

 

 

 

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